Pure Retirement Heritage Drawdown Midi Fixed ERCs (DTV)

Contributors: Nicola Date, Katherine Read. Rachel Wait & Reviewed by Francis Hui

Are You Considering the Heritage Drawdown Midi Fixed ERCs (DTV) Scheme? What are the Eligibility Requirements, Features, Interest Rates & Scheme Options? Discover If This Equity Release Plan Is For You.

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Pure Retirement Heritage Drawdown Midi Fixed ERCs (DTV) Review

Heritage Drawdown Midi Fixed ERCs (DTV) Key Details

Type Rate APR
Pure Retirement Fixed 3.75%% 3.82%%

Scheme Incentives

  • £600 Cashback
  • Free Valuation

Scheme Offers

  • Fixed Early Repayment Charges
  • 36.62% Maximum LTV

I think you’ll agree with me when I say:

It’s REALLY hard to choose the best equity release scheme with all the choices available.

Or is it?

Is the Pure Retirement Heritage Drawdown Midi Fixed ERCs (DTV), equity release scheme the best?

Don’t let your equity release dream become a nightmare!

Luckily, we’re here to guide you on the ins and outs of equity release, as you deserve only the best.

However, it’s important to remember that not all plans are suited to each individual. You need to look for one that will serve your home, your lifestyle, and the reason why you’re considering equity release in the first place.

As leading experts in the field, we’ve delved into hours of research, unpacked all the equity release plans on the market (we’ve reviewed over 250 schemes!), and discovered the best in the business.

Could the Pure Retirement Heritage Drawdown Midi Fixed ERCs (DTV) be the right equity release plan for you?
We’re here to help you:
Pure Retirement is one of the leading equity release providers on the market and might just be the answer you’ve been looking for.
Can you truly go wrong with Pure Retirement?
Let’s find out!
pure retirement heritage drawdown midi fixed ercs (dtv)

What’s Equity Release?

An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.

Learn More: What’s Equity Release?

How Does Equity Release Work?

Equity release is available for individuals or couples over the age of 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.

Learn More: How Does Equity Release Work?

We’ve summed up the most important information about the topic in this quick video.

How Much Can You Release?

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Most popular reasons for releasing equity

Who Are Pure Retirement?

Pure Equity Realty is a locally owned and operated brokerage firm1 that prides itself on being a committed and well-educated group of real estate professionals that are always seeking to deliver the best possible service to their customers.

Scheme Background

Pure Retirement, a lifetime mortgage lender and a leader in the retirement lending market for homeowners aged 55+.

Formed in 2014, Pure Retirements’ wealth of experience helped form its equity release plans both in the higher maximum loan part of the market and the lower competitive interest rate end.

Pure Retirement also aims to minimize set-up costs using cashback & fee waivers on their drawdown and lump sum lifetime mortgage plans. This makes the Pure Retirement Classic range of plans one of the lowest interest rate and application cost-to-market equity release schemes available.

Pure Retirement Classic Range

The Pure Retirement Classic range of drawdown lifetime mortgage plans are funded by Rothesay Life – a leading UK life insurer. There are many versions of the Classic Drawdown plans – the Lite and Midi. The plans only differ in the size of the loans they will provide at certain ages and the consequent interest rate that Pure Retirement applies.

Classic Drawdown Equity Release Plans

Their Classic Drawdown Equity Release Plans provide an initial capital lump sum, which aims to offer a more competitive interest rate than its industry colleagues. Combining balance control measures with their flexible 10% partial repayment facility, along with competitive lifetime mortgage interest rate, Pure Retirement aims to offer this drawdown equity release scheme to a wider generic audience of retirees.

Eligibility & Requirements

This equity release plan from Pure Retirement is available to a maximum of two applicants on a single and joint life basis.

Scheme Features

Scheme Options

Scheme Options

Editor’s Rating: 4.65

Pure Retirement's Other Equity Release Schemes

Are you looking for a specific equity release scheme?

These are some of the schemes offered by Pure Retirement.

Not what you're looking for?

Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare interest rates on equity release!

Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.

HOW MUCH EQUITY CAN YOU RELEASE?

Most people are using equity release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.

See how much you can release today!

How Much Can You Release?

Use the FREE Calculator Below 👇

 

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Value of Your Home?

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As Featured In
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rachel w

Rachel Wait
Personal Finance Journalist

Rachel is an experienced finance journalist and editor with a particular interest in personal finance and consumer affairs. She has vast experience writing about money issues, property, insurance, and consumer affairs, and you’ll find her articles regularly featured in top media and newspaper publications.
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Written by
John Lawson
Founder SovereignBoss

John is passionate about education and has made it his life-long mission to assist UK citizens on their future financial options, with a specialist interest in equity release, and SovereignBoss is the natural extension of this passion.
francis

Reviewed by
Francis Hui
Senior Risk Manager

Having held various high-level roles across the industry, Francis is truly an expert in aiding UK citizens in their financial decisions and risk analysis. His unique insight and statistical knowledge make him the perfect person to help you take your financial future to the next level.
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Katherine Read
Consumer Affairs Writer

Since joining the editorial team at SovereignBoss, Katherine has become focused on bringing transparency to finances and opportunities for those approaching retirement age. She writes on the topics of equity release, home reversion, and mortgages.
nicola

Nicola Date
Writer & Journalist

Nicola is a financial writer for SovereignBoss and is passionate about the opportunities that equity release can open up for homeowners. Her extensive business experience and deep understanding of the industry means that she’s always up-to-date with the latest developments.

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Value of Your Home?

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As Featured In
yahoofinance marketwatch